The latest data shows that the economy contracted by 4.3 per cent in Q4 2023 after a 16.2 per cent year-on-year decrease in oil activities
The preliminary data shows that Saudi Arabia’s economy contracted at a slower pace in Q4 2023 after a decline of 4.4 per cent in the previous quarter
The statistics authority said rental prices increased by 9 per cent in December 2023
The unemployment rate for female citizens fell to 15.7 per cent, from 19.3 per cent a year ago
Citizen unemployment peaked at over 15 per cent at the height of the pandemic in mid-2020 and has since fallen almost every quarter
Saudi Arabia increased its value-added tax from 5 per cent to 15 per cent on July 1
The exodus comes after more than 277,000 expats left their jobs in the fourth quarter